The Gap 2013 Annual Report Download - page 25

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1
Part I
Item 1. Business.
General
The Gap, Inc. (Gap Inc., the “Company,” “we,” and “our”) was incorporated in the State of California in July 1969
and was reincorporated under the laws of the State of Delaware in May 1988.
Gap Inc. is a leading global apparel retail company. We offer apparel, accessories, and personal care products for
men, women, and children under the Gap, Banana Republic, Old Navy, Piperlime, Athleta, and Intermix brands.
Our global portfolio of distinct brands across multiple channels and geographies gives us a competitive advantage
in the global retail marketplace. We operate in the specialty, outlet, online, and franchise channels.
Gap Inc. has Company-operated stores in the United States, Canada, the United Kingdom, France, Ireland,
Japan, Italy, China, Hong Kong, and beginning in March 2014, Taiwan. We also have franchise agreements with
unaffiliated franchisees to operate Gap, Banana Republic, and Old Navy stores throughout Asia, Australia,
Eastern Europe, Latin America, the Middle East, and Africa. Under these agreements, third parties operate, or will
operate, stores that sell apparel and related products under our brand names. We have grown our franchise store
base to 375 stores in 41 countries as of the end of fiscal 2013. Our products are also available to customers
online through Company-owned websites and through the use of third parties that provide logistics and fulfillment
services. Most of the products sold under our brand names are designed by us and manufactured by independent
sources. We also sell products that are designed and manufactured by branded third parties, especially at our
Piperlime and Intermix brands.
Gap. Founded in 1969, Gap is our flagship brand and remains one of the most iconic apparel brands in the
marketplace today. The brand stands for casual, American style and offers classic apparel at accessible price
points to help customers express their individuality.
Gap entered the children’s apparel market in 1986 with GapKids and in 1989 with babyGap. Maternity apparel
was later added to the collection. In 1998, we launched GapBody, which offers loungewear, sleepwear, intimates,
and active apparel for women. Today, Gap products are available globally in our specialty and outlet stores,
online, and in franchise stores.
Banana Republic. Banana Republic is a global apparel and accessories brand that focuses on delivering
modern, covetable workplace style for both men and women. The brand offers versatile workwear that can be
styled for any occasion - from desk to dinner. Banana Republic also partners with notable fashion designers to
offer exclusive limited-edition collections inspired by the designers' distinct styles and trends.
Acquired in 1983 with two stores, Banana Republic has evolved to offer collections that include apparel,
handbags, shoes, jewelry, personal care products, and eyewear for men and women at higher price points than
Gap. Today, customers can purchase Banana Republic products globally in our specialty and outlet stores,
online, and in franchise stores.
Old Navy. Old Navy opened its first store in 1994, making current American essentials accessible to every
family. The brand offers customers on-trend clothing and accessories, as well as updated basics for adults and
children at great prices in a unique and energizing shopping environment. Customers can purchase Old Navy
products in stores and online, which includes online-exclusive items such as a plus-size line. In July 2012, the
brand opened its first store outside of North America in Odaiba, Japan. In March 2014, the brand opened its first
store in Shanghai, China and its first franchise location in the Philippines.
Piperlime. Launched in 2006, Piperlime offers a mix of private-label and branded apparel and accessories, as
well as leading brands in shoes and handbags. The brand inspires customers with a fresh and unique mix of
products, brands, and price points, as well as favorite picks and tips on how to wear the season's trends from
famous guest editors. Customers can shop online and in the brand's store, which opened in the SoHo
neighborhood of New York in September 2012.